Sonapur Minerals and Oil Allotted IPO Shares To Locals and Nepalese Employed Abroad on Ashwin 02

Sonapur Minerals and Oil Limited has allotted IPO shares to the project-affected locals of the Dang and Rolpa District and Nepalese citizens working abroad on 2nd Ashwin, 2080.

The issued capital of the company is Rs. 3.07 Arba of which 5% i.e. 15,37,525 unit shares worth Rs. 15.37 Crores were allocated to project-affected locals of Dang and Rolpa District. Meanwhile, 35% of the company's issued capital i.e. 1,07,62,675 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 10,76,268 units shares were allocated for Nepalese citizens working abroad. The issue opened on 29th Shrawan, 2080.

In accordance with the notice released today, the company hereby informs that, of the total units amounting to 15,37,525 that were initially designated for local residents in industrially affected areas, only 1,34,520 units have been allotted thus far. The remaining 14,03,005 shares have been incorporated into the 35 percent portion of the public issue, totaling 1,07,62,675 unit shares, resulting in a cumulative figure of 12,165,680 units. Notably, 10 percent of this total, equivalent to 12,16,568 units, has been successfully distributed to Nepalese individuals employed abroad as per the stipulated allocation.

NIMB Ace Capital has been appointed as the issue manager.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned a long-term rating of IRN BBB-(Triple B Minus) to the long-term bank facilities and a short-term rating of IRN A3 (A Three) to the short-term bank facilities.

Sonapur Minerals and Oil Private Limited, incorporated in June 2008, was later converted to Sonapur Minerals and Oil Limited on July 22, 2022. The company is presently engaged in manufacturing and selling OPC under the brand name “Sona Cement” and PPC under the brand name “Sona Shree Cement”. The business operation of the company is managed by its Managing Director, Mr. Nipesh Tayal.

Notice